A preliminary Japanese PMI reading eased to 54 in February suggesting that export volumes will continue to expand at a solid pace, as reported by Wall Street Journal. Asia Stocks and Indices advanced after a shaky start on Wednesday, following Wall Street’s weak performance; the first in seven sessions.
Bitcoin edges higher, hitting a 3 week high, amid strong demands from Korea. However, Venezuela has launched its own cryptocurrency, to ease sanction-related difficulties regarding foreign investment. Venezuela claims $735 Million has been raised in first cryptocurrency sale, as reported by Coin Desk. Japanese Exchanges also unite to form a new self-regulatory group. following the Coincheck Hack.
Ethereum edged lower by 1.3%, Ripple also edged lower by 1.6% while Litecoin shot up 9.3%. Litecoin’s market capitalization is expected to broadly expand following the creation of Litecoin Cash.
The Euro declined against the Dollar Tuesday, following waned worries on US Budget Deficit. Sterling recovered against the Dollar following media report that the EU Parliament would call for giving Britain ‘privileged’ single market access. The Yen weakened against the Dollar though gains were limited based on worries over political developments and uncertainty about this week’s US Bond Auctions.
Dow Jones closed on a retreat at 1.03%, and so did S&P 500 and Nasdaq, at 0.59% and 0.08% respectively. Gold was under pressure by the strengthened US Dollar and rising Interest Rates. Oil hit a near 2 week high amid inventory declines.
The appreciation of Home Prices has gradually improved and is expected to move from 6 to 7% this year. Existing Home Sales will be released today, Wednesday but the FOMC Minutes release afterwards will be the main market focus.
Potential Catalysts High Impact
08:30 AM GMT German Manufacturing PMI (Feb)
09:30 AM GMT UK Average Earnings Index + Bonus (Dec)
09:30 AM GMT UK Claimant Count Change (Jan)
02:15 PM GMT BoE Governor Carney Speaks
02:15 PM GMT UK Inflation Report Hearings
03:00 PM GMT US Existing Home Sales (Jan)
07:00 PM GMT US FOMC Meeting Minutes